This study questions the rationality of people investing in HFs. I usea sample of London listed closed-end hedge funds to evaluate two criteriathat imply irrational behavior. I nd that the rationality of investorscan not be rejected for the majority of time. However, the results alsoimply that...

We develop a stylized model of economic growth with bubbles. In this model, financial frictions leadto equilibrium dispersion in the rates of return to investment. During bubbly episodes, unproductiveinvestors demand bubbles while productive investors supply them. Because of this, bubbly...

Can increasingly predominant shareholders improve the performance of the corporations they own and should they attempt to do so?

Can increasingly predominant shareholders improve the performance of the corporations they own and should they attempt to do so?

Entrepreneurs and SMEs hold a crucial role in reaching a sustainable future by promoting decent work, innovation-driven development, and thus inequality reduction, which all fall into the UN Sustainable Development Goals. In hydrocarbon-based rentier states, however, large enterprises are...